Patel Retail Ltd. (PATELRMART.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-104.6%

-₹11.15

vs ₹242.32 price

Levered DCF

-₹115.14

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	11.65×	2,397.5×	42.62×	58.71×	61.08×	60.44×	71.93×	93.71×
P/B	1.25×	5.25×	10.18×	13.37×	11.4×	14.02×	18.2×	24.36×
P/S	0.43×	0.87×	1.2×	0.95×	0.92×	0.85×	0.81×	0.91×
EV / EBITDA	8.51×	14.28×	20.63×	26.48×	37.39×	36.41×	28.25×	31.64×
Gross margin	11.5%	0.1%	16.8%	13.8%	14.5%	12.9%	12.1%	13.1%
Operating margin	5.1%	0.1%	5.5%	3.7%	12.0%	10.8%	9.4%	10.4%
Net margin	3.7%	0.0%	2.8%	1.6%	1.5%	1.4%	1.1%	1.0%
Current ratio	2.25×	1.31×	1.16×	1.13×	1.14×	1.18×	1.17×	1.11×
Debt / equity	0.45×	1.36×	1.99×	2.56×	2.78×	3.53×	4.29×	6.07×
Interest coverage	4.37×	2.28×	2.95×	3.43×	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	2.3%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.7%	0.2%	23.9%	22.8%	18.7%	23.2%	25.3%	26.0%
Return on invested capital	7.6%	0.1%	11.4%	10.9%	29.4%	28.9%	29.4%	26.2%
Return on assets	6.3%	0.1%	6.8%	5.4%	4.1%	4.6%	4.2%	3.2%
Free cash flow yield	-24.2%	2.3%	1.3%	-1.8%	1.5%	-7.5%	3.6%	-1.4%
Earnings yield	8.6%	0.0%	2.3%	1.7%	1.6%	1.7%	1.4%	1.1%
Enterprise value	₹6.1B	₹8.9B	₹11.5B	₹11.4B	₹8.6B	₹8.7B	₹6.4B	₹6.4B
Net debt / EBITDA	2.2×	2.9×	3.33×	4.2×	6.84×	7.04×	5.25×	6.21×
Cash conversion cycle (days)	124	103	90	53	55	61	55	66